Tata Power’s Renewable Portfolio Records 329% Jump In Consolidated PAT In Q1FY18

Tata Power on Wednesday (23 August) has announced that the company’s renewable portfolio in India has registered a healthy consolidated profit after tax (PAT) of Rs 142.18 crore in Q1 of FY18, a 329 per cent increase from Q1FY17.

The renewable business capacity of Tata Power crossed 2000 MW and non-fossil fuel portfolio stood at 3144 MW, a 92 per cent increase from the corresponding quarter last year.

Another 500 MW of capacity is under construction by Tata Power Renewable Energy Ltd (TPREL), Tata Power’s wholly-owned subsidiary. The operating renewable portfolio of TPREL has grown to 1457.2 MW, comprising 530.2 MW wind and 927 MW solar respectively.

In keeping with its commitment to generate 30 per cent – 40 per cent power by 2025 through clean energy sources, Anil Sardana, MD & CEO, Tata Power, said, “The vision that Tata Power, has for its business is to be a market leader in the energy sector, with firm roots in sustainability.”  

“The steady growth of our renewable & clean portfolio has been a matter of great pride for us. In the last 5 years, we have become the largest renewable energy player and going forward, we will continue to invest in renewable energy projects, both organic and inorganic, as well as in cutting-edge technologies to maximize shareholder value.”